Rhea-AI Impact
Rhea-AI Sentiment
Rhea-AI Summary
Battery X Metals has announced a 3.3:1 share consolidation of its common shares, reducing the total from 70,930,153 to approximately 21,493,985 shares. The consolidation, approved by the board of directors without requiring shareholder approval, is expected to begin trading on the Canadian Securities Exchange on December 10, 2024. No fractional shares will be issued, and any fractions will be rounded down. The company believes this move will enhance share marketability, attract broader investor interest, and improve flexibility for future corporate activities and financing opportunities.
Battery X Metals ha annunciato una consolidazione delle azioni ordinarie con un rapporto di 3,3:1, riducendo il totale da 70.930.153 a circa 21.493.985 azioni. La consolidazione, approvata dal consiglio di amministrazione senza richiedere l’approvazione degli azionisti, dovrebbe iniziare a essere scambiata sulla Canadian Securities Exchange il 10 dicembre 2024. Non saranno emesse azioni frazionarie e eventuali frazioni saranno arrotondate per difetto. L’azienda crede che questa mossa migliorerà la commerciabilità delle azioni, attirerà un interesse più ampio da parte degli investitori e migliorerà la flessibilità per future attività aziendali e opportunità di finanziamento.
Battery X Metals ha anunciado una consolidación de acciones comunes en una proporción de 3.3:1, lo que reducirá el total de 70,930,153 a aproximadamente 21,493,985 acciones. La consolidación, aprobada por la junta directiva sin necesidad de la aprobación de los accionistas, comenzará a cotizar en la Canadian Securities Exchange el 10 de diciembre de 2024. No se emitirán acciones fraccionarias y cualquier fracción será redondeada hacia abajo. La empresa considera que esta medida mejorará la comercialización de las acciones, atraerá un mayor interés de los inversores y mejorará la flexibilidad para futuras actividades corporativas y oportunidades de financiación.
Battery X Metals는 보통주 3.3:1 비율의 주식 병합을 발표하여 총 주식을 70,930,153주에서 약 21,493,985주로 줄였습니다. 이 병합은 주주 승인을 요구하지 않고 이사회에서 승인되었으며, 2024년 12월 10일부터 캐나다 증권 거래소에서 거래를 시작할 것으로 예상됩니다. 분할 주식은 발행되지 않으며, 모든 분수는 내림하여 반올림됩니다. 회사는 이번 조치가 주식의 시장성을 높이고, 더 넓은 투자자 관심을 끌며, 향후 기업 활동 및 자금 조달 기회를 위한 유연성을 향상시킬 것이라고 믿고 있습니다.
Battery X Metals a annoncé une consolidation de ses actions ordinaires au ratio de 3,3:1, réduisant le total de 70 930 153 à environ 21 493 985 actions. La consolidation, approuvée par le conseil d’administration sans nécessiter l’approbation des actionnaires, devrait commencer à être négociée sur la Bourse canadienne des valeurs mobilières le 10 décembre 2024. Aucune action fractionnée ne sera émise, et toutes les fractions seront arrondies à la baisse. L’entreprise estime que cette mesure améliorera la liquidité des actions, attirera un plus large intérêt des investisseurs et améliorera la flexibilité pour de futures activités corporatives et opportunités de financement.
Battery X Metals hat eine Konsolidierung seiner Stammaktien im Verhältnis von 3,3:1 angekündigt, wodurch sich die Gesamtzahl von 70.930.153 auf etwa 21.493.985 Aktien verringert. Die Konsolidierung, die vom Vorstand ohne Genehmigung der Aktionäre beschlossen wurde, soll am 10. Dezember 2024 an der Canadian Securities Exchange gehandelt werden. Es werden keine Bruchstücke von Aktien ausgegeben, und alle Brüche werden abgerundet. Das Unternehmen glaubt, dass dieser Schritt die Handelbarkeit der Aktien verbessern, breiteres Investoreninteresse anziehen und die Flexibilität für zukünftige Unternehmensaktivitäten sowie Finanzierungsmöglichkeiten erhöhen wird.
Positive
- Share consolidation could enhance marketability and attract broader investor interest
- Potential improvement in ability to secure additional financing
- Greater flexibility for future corporate activities
Negative
- Shareholders with holdings not divisible by 3.3 will lose fractional shares with no cash compensation
- No immediate tangible business benefit or value creation
VANCOUVER, BC / ACCESSWIRE / November 29, 2024 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB) (“Battery X Metals” or the “Company“) announces today the intention to consolidate all of its issued and outstanding common shares (the “Common Shares“) on the basis of 3.3:1, with each three and one-third (3 1/3) pre-consolidated Common Shares being consolidated into one (1) post-consolidated Common Share (the “Consolidation“). Management anticipates that the Common Shares will commence trading on the Canadian Securities Exchange (“CSE“) on a post-consolidation basis at market open on December 10, 2024.
In accordance with the Company’s articles, shareholder approval will not be required for the proposed Share Consolidation. The proposed Share Consolidation has been approved by the Company’s board of directors. Following the Share Consolidation, the Common Shares will begin trading on a consolidated basis under the existing Company name and trading symbol.
The proposed Consolidation would result in the number of issued and outstanding Common Shares being reduced from the current outstanding 70,930,153 Common Shares to approximately 21,493,985 Common Shares, subject to rounding. No fractional shares will be issued as a result of the Consolidation. Any fractional shares resulting from the Consolidation will be rounded down to the next whole Common Share, and no cash consideration will be paid in respect of fractional shares.
The board of directors of the Company believes the Consolidation will provide the Company with greater flexibility for future corporate activities, enhance the marketability of the Common Shares as an investment and lead to increased interest by a broader spectrum of potential investors, thereby increasing its ability to secure additional financing for operational and growth initiatives.
The Company will be obtaining a new CUSIP and ISIN number in connection with the Consolidation. The new CUSIP and ISIN numbers will be disclosed in a subsequent news release. The Company anticipates that the CSE will issue a bulletin to dealers advising of the Consolidation and effective date of trading on the consolidated basis.
About Battery X Metals Inc.
Battery X Metals Inc. (CSE:BATX) (OTCQB:BATXF) (FSE:R0W, WKN:A3EMJB) is committed to advancing the global clean energy transition through the development of proprietary technologies and domestic battery and critical metal resource exploration. The Company focuses on extending the lifespan of electric vehicle (EV) batteries, through its portfolio company, LIBRT1, recovering battery grade metals from end-of-life lithium-ion batteries, and the acquisition and exploration of battery and critical metals resources. For more information, visit batteryxmetals.com.
149% owned Portfolio Company
On Behalf of the Board of Directors
Massimo Bellini Bressi, Director
For further information, please contact:
Massimo Bellini Bressi
Chief Executive Officer
Email: mbellini@batteryxmetals.com
Tel: (604) 741-0444
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws, including statements related to the proposed Consolidation and the effective date thereof. Forward-looking statements reflect management’s current beliefs, expectations, and assumptions based on available information as of the date of this release. However, these statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to, failure to obtain regulatory approvals required to effect the Consolidation. Additional details regarding risks and uncertainties are available in the Company’s filings on SEDAR+. The forward-looking statements in this news release are made as of the date hereof, and Battery X Metals disclaims any intention or obligation to update or revise such statements, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements.
SOURCE: Battery X Metals
View the original press release on accesswire.com
FAQ
What is the share consolidation ratio announced by Battery X Metals (BATXF)?
Battery X Metals announced a 3.3:1 share consolidation ratio, where every 3 1/3 pre-consolidated shares will be consolidated into one post-consolidated share.
When will Battery X Metals (BATXF) shares start trading on post-consolidation basis?
The post-consolidated shares are expected to begin trading on the Canadian Securities Exchange (CSE) on December 10, 2024.
How many shares will Battery X Metals (BATXF) have after the consolidation?
After the consolidation, Battery X Metals will have approximately 21,493,985 common shares, reduced from the current 70,930,153 shares.
Will shareholders receive cash for fractional shares in BATXF consolidation?
No, fractional shares resulting from the consolidation will be rounded down to the next whole share, and no cash consideration will be paid.
